Australian Herald
AustralianHerald.com Wednesday 14th May 2008 Edition 135/2008
Front Page Breaking Business News
Golden-handshake payouts unpopular with Euro ministers


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Eurozone finance ministers are looking at ways to cap executive payouts, often know as...


Wealth managers hear the good news about stocks
A group of independent wealth managers has been told by market historian Jeremy Siegel that stocks are a much better buy than other asset classes, particularly U.S. Treasury...


Bernanke gives out with the bad news
US Federal Reserve Chairman Ben Bernanke claims the US credit crisis is...


China retail sales pick up
China's retail sales of consumer goods have risen 22 percent in one...


Airbus announces new delays on A380
Delays of up to three months for A380 deliveries have been announced by Airbus, the world's largest commercial aircraft...


FBI warns of rise in mortgage scams
Mortgage scams in the US last year netted criminals hundreds of millions of...


Australian government provides anti-inflation budget
Australia's Rudd Government has produced a budget that will put more than AUD$40 billion in reserve for long-term spending on health, education and...


Hewlett Packard makes offer for EDS
Hewlett-Packard has made an offer to buy US computer services company Electronic Data...


Major companies in race to build cheapest cars
There is intense competition to build the world's cheapest...


Horse owners lose winnings money
Two partial owners of a champion race horse are on trial in northern Kentucky in the USA, accused of defrauding clients out of millions from a diet-drug settlement....


Banks Slip, EADS Beats Forecasts
The company said EBITDA in the second quarter would be above $6.5 billion "largely on account of strong demand for our products across all regions." Sales and net profit was $29.81 billion and $2.37...


Updates, advisories and surprises
) the Voorhees, N.J., water and wastewater utility company, swung to a first-quarter loss from a year-earlier profit on 8.2% higher revenue. The loss was $732.5 million, or $4.58 a share, compared...


Tesco to pay $1.9 billion for Korean stores
LONDON (MarketWatch) -- Tesco on Wednesday made its largest-ever acquisition, paying $1.9 billion for 36 South Korea stores that will have changed ownership twice in less than three...


IT education organisation takes Microsoft grumbles to EC
standardisation of its nascent Office Open XML (OOXML) document format. Becta has now taken its interoperability complaint up to the Commission, to be folded into that wider investigation. The...


Another Lender Asks Shareholders For More Cash
Around 35% of the company's shares are in the hands of private investors, who have holdings of up to 250 shares. Many of these shareholders are former members who picked up stock when Bradford &...


Markets News Wednesday; European stocks rise; Oil price remains above $125 in New York after Tuesday
See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive...


Two Arrested Over Cornwall Hotel Blaze
The blaze at the Penhallow Hotel in Newquay, Cornwall, last summer claimed the lives of Joan Harper, 80, Peter Hughes, 43, and his mother, Monica, 86.Police say a 42-year-old man and a 36-year-old...


Unemployment has increased and the number of people claiming Jobseeker
The so-called claimant count went up by 7,200 in March to 806,300.It was the third consecutive monthly rise and the biggest monthly increase since April 2006.The last time the count rose for three...


Shares lifted by M&A, earnings as BHP Billiton, EADS rise
LONDON (MarketWatch) - European shares advanced on Wednesday, lifted by deal speculation in the mining sector and by some well-received earnings from some of Europe's best-known companies, including...


Hundreds Of UFO Sightings In UK
Hundreds of sightings reported Documents detailing hundreds of sightings of unexplained objects in the skies above Britain have been opened to the public for the first time.They reveal reports of...


Fergie Blasts Critics Of
Royal mother and daughter "Touch me, fine, but don't touch my children," the Duchess said."Beatrice is a healthy size 10. She's a fabulous girl. She's suffered with special needs at school,...


Hewlett-Packard says it will buy Electronic Data Systems
SAN FRANCISCO -- With his biggest acquisition to date, Hewlett-Packard Co. Chief Executive Mark Hurd might prove how ruthless he can be.Since he took the helm three years ago, Hurd has driven the...


Tesco buys S Korea hypermarkets for €1.2bn
Grocery giant Tesco unveiled its biggest ever deal today after agreeing to spend nearly £1bn (€1.25bn) on beefing up its hypermarket presence in South Korea.The retailer has bought 36 Homever...


EDS to Cut Jobs, Stay in Plano Under Hewlett-Packard
Posted on: Wednesday, 14 May 2008, 03:00 CDT By Victor Godinez, The Dallas Morning News May 14--Even though Hewlett-Packard Co. has agreed to buy Electronic Data Systems Corp., EDS isn't going to...


Microsoft undecided on next step in Yahoo bid
May 1, 2008 New York - Microsoft's board held a protracted meeting Wednesday but failed to decide whether to sweeten its unsolicited bid for Yahoo, walk away from the deal or pursue a hostile...


The Best and Worst in VHS-to-DVD Converters
Pinnacle's Dazzle DVD Recorder is so unabashedly cute, you might write it off as a reject from a Sanrio Surprise Store. Don't! This tadpole-shaped device is one of the best around at sucking data...


Big discounts help Wal-Mart to beat profit predictions
May 14, 2008 By Chris Burritt Greensboro, North Carolina - First-quarter profit at Wal-Mart Stores grew more than analysts estimated, results showed yesterday, after the world's largest retailer cut...


Hewlett-Packard bets EDS will fuel hot streak
SAN FRANCISCO - Riding a hot streak that has doubled its stock price in three years, Hewlett-Packard is rolling the dice on a $13.2 billion acquisition of technology services provider Electronic Data...


Microsoft uses Internet cafés to deliver e-learning tool
MANILA, Philippines -- Microsoft Philippines has partnered with local Internet café operator Netopia in offering free "digital literacy" courses, including the basics of some of its core products....


ING reports profit decline on market turmoil
First-quarter net profit was 1.54 billion euros ($2.4 billion), compared with 1.89 billion euros a year earlier, ING said on Wednesday. The average expectation of 12 analysts polled by Reuters was...


Sistema Announces Unaudited Financial Results for the Fourth...
All BusinessWire news Sistema (the "Group") (LSE:SSA), the largest diversified public corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services...


SCM Microsystems Reports First Quarter 2008 Results
All PR Newswire news FREMONT, Calif., May 14 /PRNewswire-FirstCall/ -- SCM Microsystems, Inc. (Nasdaq: SCMM, Prime Standard: SMY), a leading provider of solutions that open the Digital World, today...


Microsoft shows off the 2008 Xbox games lineup
A screenshot from the forthcoming Epic Games release, 'Gears of War 2.' The game, which is scheduled to be released in November, is the sequel to the hit, 'Gears of War,' which sold more than 5...


Sony announces unexpected losses
Sony has reported an unexpected loss in the first three months of this year, but predicted better-than-expected profits for the rest of the year. The downturn was largely due to the falling stock...


Sony posts surprise loss, forecasts growth
Research ) posted a surprise quarterly loss as the weak stock market ate into the value of its securities holdings, but it forecast a bigger-than-expected profit this year as it boosts sales of...


Citigroup to shed nearly $500 billion in assets
News ) new chief executive, Vikram Pandit, plans to stick with a global banking model after months of intense review - but only after shrinking the company by about one-fifth first.The three-year...


Austral Pacific Releases Q1 Results and Looks to the Future
All PR Newswire news WELLINGTON, New Zealand, May 14 /PRNewswire-FirstCall/ -- Austral Pacific Energy Ltd. (TSX-V: APX; NZSX: APX; Amex: AEN) Chief executive, Thom Jewell, said the company recorded...


U.S. could face mild recession, Greenspan quoted
SINGAPORE (Reuters) - U.S. economic data suggests the world's biggest economy could face a mild recession, former Federal Reserve chairman Alan Greenspan was quoted as telling Asian investors on...


Tesco to buy 36 Homever stores in South Korea for $1.86 bln
) said that it will buy 36 Homever stores in South Korea from the E-Land Group for 958 million pounds ($1.86 billion), including debt. The Homever stores, most of which were formerly Carrefour...


These days, everybody loves Wal-Mart
UK:FGP ] First Group down 5.7% after planning share placing','German DAX 30 index up 0.5% at 7,096.15','French CAC 40 index up 0.7% at 5,035.20','U.K. FTSE 100 index up 0.4% at...


BofA customers under significant economic pressure
Bank of America Corp., the nation's second-largest bank, reported rising credit costs Tuesday, as it continues to wade through a challenging economic...


Asian stocks mixed as oil holds near record
Asian stocks struggled to make gains Wednesday as the benefits of a firm dollar were offset by weakness in the financial sector, oil prices near $127 a barrel and dashed expectations of more U.S....


Hewlett-Packard is facing skepticism on EDS deal
Mark Hurd, the chief executive of Hewlett-Packard, has been a Wall Street darling ever since he joined the giant computer maker three years ago. The company's profits surged as Hurd deftly cut...


Corporate Express rebuffs sweetened Staples bid
Hours after saying it was open to holding talks, Corporate Express NV said Tuesday a sweetened $2.47 billion hostile takeover bid from its larger office products rival Staples Inc. is still too...


MySpace wins $230M spam judgment, believed to be largest ever
NEW YORK: The popular online hangout MySpace has won a $230 million (euro148.65 million) judgment over junk messages sent to its members in what is believed to be the largest anti-spam award ever. ...


No Such Thing As a Free Lunch For Most
Chained to the desk? Research by Visa has found that almost eight out of 10 (78%) no longer take advantage of a full lunch hour - while 15% have no break at all.A third of those surveyed said...


Shares higher in mid-trade on upbeat earnings
MANILA, Philippines -- Shares were higher halfway through Wednesday's session as investors focused on companies with upbeat earnings and set aside worries about inflation after crude oil prices hit a...


Electrical Items Dumped By Brits
Broken washing machines face the scrap heap New research has found that 86% of people immediately discard broken household items.Meanwhile nearly half would replace a stereo, MP3 or DVD player...


Carl Icahn considering attempt to oust Yahoo board
Billionaire investor Carl Icahn is reportedly loading up on Yahoo Inc.'s stock in preparation for a possible attempt to shove aside the Internet icon's board and bring the company's disillusioned...


Median home prices drop in many cities
Median home prices fell in two-thirds of the cities surveyed during the first three months of this year while sales declined in 46 states compared to a year ago, according to the latest report...